- Japan posts larger than expected trade deficit of 1.35T JPY
- Chinese CB leading index up by 1.4%
- German Ifo business climate to improve from 109.3 to 109.7
- U.K. claimant count change to post another drop in claimants
- BOE meeting minutes due
Today’s Asian trading session turned out to be a quiet one, despite the release of several medium-tier economic data. Yen pairs posted small gains as the Nikkei stock index ended the session in the green. Dollar pairs, however, moved mostly sideways since traders seem to be hesitant to take any large positions ahead of the FOMC event.
Before the much-anticipated taper-or-no-taper announcement though, there are still a few opportunities to catch quick pips in today’s London session. Germany will be printing its Ifo business climate index and possibly show an improvement from 109.3 to 109.7 while the U.K. is set to report another drop in claimants for the month of November. The BOE minutes are also set for release in the next few hours, which means potential volatility among pound pairs.
Watch these reports closely in case they become catalysts for breaks in intraday ranges!
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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!